# General Average

*Last updated: 2026-06-22*

> General average exists to distribute the cost of a deliberate sacrifice made to save a maritime venture among all parties who stood to benefit from its success.

General average exists to distribute the cost of a deliberate sacrifice made to save a maritime venture among all parties who stood to benefit from its success. When a shipmaster intentionally jettisons cargo, floods a hold, or takes another extraordinary measure to avert a common peril, the resulting losses are shared proportionally among shipowners, cargo interests, and other stakeholders according to the salved value of their respective property. The York-Antwerp Rules, referenced in most bills of lading worldwide, govern how contributions are calculated. A shipowner appoints an average adjuster to prepare the dispache—a detailed statement allocating losses—a process that routinely takes years to complete. Cargo insurers typically cover general average contributions on behalf of policyholders, making marine cargo insurance particularly valuable for high-value consignments. General average is distinct from particular average, where a loss falls solely on the party whose goods are damaged, with no shared liability.

**Source:** [https://en.wikipedia.org/wiki/General_average](https://en.wikipedia.org/wiki/General_average)

## Quick Facts

| Property | Value |
|---|---|
| Term | General Average |
| Language | EN |
| Word count | 147 |
| Last updated | 2026-06-22 |
| Source | https://en.wikipedia.org/wiki/General_average |

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